<div id="readability-page-1"><div>** Morningstar says Netflix pursuing Warner Bros takeover has implications for cinema operators, like Australia's EVT ** Adds Netflix isn't pursuing WBD to make movies for cinemas; notes it's very unlikely Netflix will commit to releasing as many new films via cinemas** Flags EVT's entertainment unit revenue is hostage to quality, quantity of films; adds no good films from Hollywood, no avenues to upsell high-margin peripherals to movie-goers** Says competing offer from Paramount Skydance , regulatory and political hurdles, opposition from creative community creating uncertainty around Netflix's bid** Keeps EVT's fair value estimate at A$13.30** EVT last up 0.2%, taking YTD gains to 21%</div></div>

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Morningstar highlights that Netflix's potential takeover of Warner Bros could impact cinema operators like Australia's EVT. Netflix is unlikely to release many films in cinemas, affecting EVT's revenue, which depends on film quality and quantity. The deal faces competition from Paramount Skydance and regulatory challenges. Morningstar maintains EVT's fair value at A$13.30, with EVT shares up 0.2%, marking a 21% YTD gain.

- Morningstar indicates that Netflix's pursuit of a Warner Bros takeover could impact cinema operators, such as Australia's EVT.  
- It highlights that Netflix is unlikely to release many new films in cinemas, which affects EVT's revenue tied to film quality and quantity.  
- The report also notes uncertainties surrounding Netflix's bid due to competing offers and opposition from the creative community, while maintaining EVT's fair value estimate at A$13.30.

Aussie cinema operator EVT faces pressure from Netflix-Warner Bros deal, Morningstar says